Greenhouse Funds LLLP Has $51.64 Million Stock Position in Blackbaud, Inc. $BLKB

Greenhouse Funds LLLP increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 13.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 802,904 shares of the technology company’s stock after acquiring an additional 96,457 shares during the period. Blackbaud comprises approximately 1.9% of Greenhouse Funds LLLP’s investment portfolio, making the stock its 26th largest holding. Greenhouse Funds LLLP owned 1.68% of Blackbaud worth $51,635,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Blackbaud by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,516,432 shares of the technology company’s stock worth $354,762,000 after purchasing an additional 706,695 shares during the last quarter. SG Capital Management LLC raised its stake in shares of Blackbaud by 777.3% during the 3rd quarter. SG Capital Management LLC now owns 598,547 shares of the technology company’s stock worth $38,493,000 after purchasing an additional 530,320 shares in the last quarter. Tributary Capital Management LLC grew its stake in shares of Blackbaud by 89.7% in the third quarter. Tributary Capital Management LLC now owns 503,742 shares of the technology company’s stock valued at $32,396,000 after buying an additional 238,251 shares in the last quarter. P2 Capital Partners LLC grew its stake in shares of Blackbaud by 10.0% in the second quarter. P2 Capital Partners LLC now owns 490,754 shares of the technology company’s stock valued at $31,511,000 after buying an additional 44,495 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Blackbaud in the second quarter valued at $31,503,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLKB has been the topic of several analyst reports. Stifel Nicolaus set a $50.00 price target on shares of Blackbaud in a research report on Tuesday, February 10th. Robert W. Baird set a $60.00 price objective on shares of Blackbaud in a research report on Wednesday, February 11th. Raymond James Financial set a $60.00 price objective on shares of Blackbaud in a research note on Tuesday, February 10th. Evercore set a $55.00 target price on shares of Blackbaud in a report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.25.

Blackbaud Stock Down 0.8%

BLKB opened at $45.01 on Thursday. The stock’s fifty day simple moving average is $52.55 and its 200 day simple moving average is $59.49. Blackbaud, Inc. has a 1-year low of $44.54 and a 1-year high of $74.88. The stock has a market cap of $2.07 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 12.78.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 10th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Blackbaud had a net margin of 10.19% and a return on equity of 175.57%. The firm had revenue of $295.26 million during the quarter, compared to analysts’ expectations of $292.71 million. During the same period in the previous year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David J. Benjamin sold 14,349 shares of Blackbaud stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $47.47, for a total transaction of $681,147.03. Following the completion of the sale, the executive vice president owned 73,124 shares of the company’s stock, valued at approximately $3,471,196.28. The trade was a 16.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kevin Mcdearis sold 15,462 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $46.43, for a total transaction of $717,900.66. Following the completion of the transaction, the executive vice president owned 91,756 shares in the company, valued at approximately $4,260,231.08. This trade represents a 14.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 39,801 shares of company stock valued at $1,893,874. Company insiders own 1.97% of the company’s stock.

Blackbaud Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.